Connect NC Update - North Carolina General Assembly · 2017. 10. 11. · Connect NC Bond...
Transcript of Connect NC Update - North Carolina General Assembly · 2017. 10. 11. · Connect NC Bond...
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Connect NC Update
Joint Legislative Oversite Committee on
Capital Improvements
Prepared by:
The Office of State Budget and Management
October 11, 2017
Mark Bondo
Monica Scott
Andrew Shaw
Jim Lora
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Connect NC Bond Information
• The Connect NC Bond Act was passed by the General Assembly in
2015 and approved by the Voters in March 2016
• The Connect NC Bond is a $2 Billion Bond supporting University,
Community College, Public Safety, State and Local Parks, NC Zoo,
and Agriculture
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Connect NC Bond Information
University 53%
Community College18%
Water and Sewer15%
Parks and Zoo5%
Public Safety4%
Agriculture5%
3Agriculture includes only the Department of Agriculture and Consumer Services Project. The Plant
Sciences Building is included in the University Total
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Debt Service Projections (Prior to Sale of Connect NC Bond)
$0
$100,000,000
$200,000,000
$300,000,000
$400,000,000
$500,000,000
$600,000,000
$700,000,000
$800,000,000
$900,000,000
2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25
Estimated Connect NC Bond Debt Service
Existing Debt Service Debt Service Estimate 3.5% Debt Service Estimate 5.75%
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Debt Service (First Sale of Connect NC Bond)
• The First Issuance of the Connect NC Bond was sold in August 2016
at an interest rate of 2.079%
• The First Connect NC Bond sale was for $200 Million
• The State issues debt based on the cash flow needs of the projects
being financed.
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Debt Service Schedule (Post First Connect NC Bond Issuance)
$0
$100,000,000
$200,000,000
$300,000,000
$400,000,000
$500,000,000
$600,000,000
$700,000,000
$800,000,000
$900,000,000
2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25
Estimated Connect NC Bond Debt Service After First Debt Issuance
Existing Debt Service with First Issuance Projected at 3.5% Projected at 5.75%
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Projected Connect NC Project Cash Flow
$0
$200,000,000
$400,000,000
$600,000,000
$800,000,000
$1,000,000,000
$1,200,000,000
$1,400,000,000
$1,600,000,000
$1,800,000,000
$2,000,000,000
FY 2016-17 FY 2017-18 FY 2018-19 FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23
Original Cash Flow Updated Cash Flow
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Connect NC Bond Expenditures
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0 $0.56M
$2.7M$3.1M
$3.4M
$1.7M
$4.97M
$5M
$6.8M
$9.6M
0
$11.6M
$4.9M
$15.4M
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
18,000,000
Aug 16 Sep 16 Oct 16 Nov 16 Dec 16 Jan 17 Feb 17 Mar 17 Apr 17 May 17 Jun 17 Jul 17 Aug 17 Sep 17 Oct 17 Nov 17
Budget Close Out: No Transactions
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Summary Project Detail
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Project Updates – Community Colleges
Community Colleges received $350 Million in Connect NC Proceeds
– Amount Allocated: $240,100,120
• New Construction: 52% of Projects
• Repairs and Renovation: 48% of Projects
– Amount Remaining to be Allocated: $109,899,880
– Community College Campuses Matching Funds: $86,774,859
– New projects are approved by the State Board of Community Colleges
Monthly
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Project Updates – Community Colleges
Project Status:
– Sixty-five (65) approved by State Board awaiting design contracts
– Eight (8) projects are under design – advance planning stage
– Sixty-five (65) projects are under design
– Forty-eight (48) projects are under construction
– Nine (9) projects are closed out
– Five (5) land purchases have closed
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Project Updates: Community Colleges
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Rowan Community College: Building 300 Renovation (Before and After)
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Project Updates: Community Colleges
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Rockingham Community College: Center for Advanced Manufacturing Renovations
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Project Updates – University of North Carolina
University of North Carolina received $1,065,000,000 in Connect NC
Proceeds
– Universities matching $225,667,232 in non-State funds
– All funds have been allocated to specific projects – 21 Projects Total
– Two (2) projects in construction: Appalachian State, Western Carolina
– One (1) Winston Salem State will break ground at the end of 2017
– Of remaining projects:
• All Projects Have Selected Designer
• One is still pursuing external fund raising opportunities (UNC Pembroke)
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Appalachian State Health Sciences Building
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Appalachian State Health Sciences Building
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UNC Greensboro: Nursing and Instructional Building
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Project Updates – Water and Sewer Infrastructure
Department of Environmental Quality Received $209,500,000 for water
and sewer loans (Revolving Fund Loan Program) and $100,000,000 in
water and sewer grants
• Department has completed 3 rounds of applications: January 2017,
July 2017, September 2017
• Currently awarded $74,806,908 in grants and $136,105,962 in loans
with $98,587,130 remaining to award from the last round of
applications
• Projects are funded on a reimbursement cycle with no funds expected
to be drawn until FY 2018-1918
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Project Updates – Water and Sewer Infrastructure
Examples of Projects Funded Under First Two Award Rounds:
– Town of McAdenville: Connection to Two Rivers Utility (Wastewater)
– Cape Fear Public Utility Authority: EPA Consent Decree Improvements
(Wastewater)
– City of Eden: Water Line Extension
– Town of Valdese: Water Meter Replacement
– City of Graham: Wastewater Line Replacement
– Tuskaseigee Water and Sewer Authority: Wastewater Line Replacement and
New Pump Stations
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Project Updates – Department of Public Safety
Received $8,500,000 for Phase II of the Samarcand Training Academy
– Dormitory Renovations:
• 1)Hope Hall – design and 90% construction complete, delivery scheduled for mid November 2017;
• 2) Carroll Hall – design and 5% construction complete, delivery scheduled for 4th quarter of calendar year
2018;
• 3) Tufts Hall – design complete and is in material procurement, construction start scheduled for 1st quarter
of calendar year 2018, completion scheduled for 3rd quarter of calendar year 2019
– Dining Hall: design will be issued for construction by late October 2017, construction start
scheduled for March 2018, completion scheduled for 3rd quarter of calendar year 2019
– Tactical Training Building – under scope development
– Swimming Pool Removal – design complete, construction will fit into the overall project
schedule during calendar year 2018
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Leonard Hall. To be razed for New
Dining Hall.
Carroll Hall.14,000 SF
Renovation.
Tufts Hall.11,000 SF
Renovation.
Hope Hall.8000 SF
Renovation.
Swimming Pool.To be removed. Replaced with a recreation area.
Samarcand Training Academy Phase TwoConnect NC BondAerial Overview
Vocation Building.Removed from scope.5000 SF Renovation.
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New Dining Hall• 8000 SF New Construction• Four Serving Lines• 200 Person Indoor Seating• 50 Person Outdoor Seating• Located on Former Leonard Hall Site
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Hope Hall• 8000 SF Renovation• 20 Dorm Rooms• Cardio/Weight Room• Housekeeping offices• Recreation Room
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Carroll Hall• 14,000 SF Renovation• 27 Dorm Rooms• Classroom• Physical Contact Training Room• Administrative offices• Recreation Room
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Tufts Hall• 11,000 SF Renovation• 24 Dorm Rooms• Classroom• Physical Contact Training Room• Recreation Room
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Pool Site• Remove former swimming pool• Convert Pool House to a Picnic Pavilion• Convert pool area to a landscaped
gathering space
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Project Updates – Department of Public Safety
Received $70 million for Three North Carolina National Guard
Readiness Centers:
− Burke County: Advance planning complete, currently in Phase I Design with
the demolition of the current Western Youth Institute scheduled no earlier
than January, concurrently Phase II of design is at 35% Schematic Design
– Guilford County: currently finalizing unit force structure and approvals
through National Guard Bureau for environmental and a real estate action
plan, designer is completing a utility infrastructure strategy for the site
– Wilkes County: currently in preliminary Development Planning of the site
location
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Burke County
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Project Updates: NC Parks
North Carolina State Parks Received $75 million for projects at each
State park
– All NC Park Projects have been identified
– Ten (10) Land Acquisitions To Expand Parks
– Twelve (12) Camping/Cabin Area Improvements
– Nine (9) Visitor and Community Center Projects
– Four (4) Access Improvements (Parking and Roads)
– Four (4) Day Use Improvements (Boat ramps, Public Access Facilities, Etc)
– Five (5) Other Projects (Renovations, Bathroom Facilities, Etc).
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Project Updates: NC Parks
Project Status:
– Two (2) Construction Projects Complete
– Ten (10) Construction Projects in Design
– Seven (7) Designer Interviews Scheduled
– One (1) Under Internal Staff Planning
– Five (5) Land Acquisitions Expended Funds
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Project Updates: Pilot Mountain State Park Visitors Center
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Project Updates: Pilot Mountain State Park Visitor Center:
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Project Updates: Fort Fisher Toilet Building Renovations
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Project Updates: Lake James Visitor Center
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Project Update: North Carolina Zoo
North Carolina Zoo received $25 million
– Project in Programing and Advance Planning
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Project Updates: North Carolina Zoo, Baboon Holding Facility
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Project Updates: North Carolina Zoo, Baboon Holding Facility
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Project Update: Grants to Local Parks
Department of Natural and Cultural Resources received $3 million in
matching grants for parks for Children and Veterans with Disabilities
– Grant Applications Closed Dec. 2016
– Grants Awarded March 2017
– Received 45 applications totaling $9.5 million
– Awarded 18 projects
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Project Update: Grants to Local Parks
Examples of Grant Recipients:
– City of Fayetteville: Massey Hill Recreation Center Universally Accessible
Sports Field
– Town of Maysville: Frost Park Splash Park
– Yadkin County: Lance Corporal Daniel Swaim Playground
– Town of Oak Island: ADA Beach Access Project
– City of Shelby: ALL Aboard Park! Unlimited Play for Everyone
– Town of Waynesville: Recreation Park Inclusive Playground
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Project Status – Department of Agriculture and Consumer
ServicesReceived $94,000,000 for the Veterinary/Food/Drug/Motor Fuels
Laboratory
– Currently in the Design Development phase of design
– Construction Manager at Risk, J.E. Dunn/T. A. Loving has been approved
by the State Building Commission
– Commissioning Agent recommendation will be considered by the State
Building Commission on October 31
– On track to begin site work in the Spring of 2018 and building construction
in the Summer of 2018
– Completion scheduled for Fall of 2020
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Project Status: Department of Agriculture and Consumer
Services
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North Carolina Agricultural Science Center – Raleigh, NC – South/Main Entrance
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Project Status – Department of Agriculture and Consumer
Services
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North Carolina Agricultural Science Center – Raleigh, NC - North/Employee Entrance
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Questions
Office of State Budget and Management Capital Team:
- Thomas Cheek, Assistant State Budget Officer
- Mark Bondo, Budget Analyst
- Monica Scott, Budget Analyst
- Andrew Shaw, Budget Analyst
- Jim Lora, Budget Analyst
[email protected] or 919-807-4786
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